Audit Committee

The Audit Committee reports to the Board concerning:

  • Audit matters
    1. Recommendations on the engagement (or disengagement) of independent auditing firms
    2. Consultation with auditor to satisfy committee members that the organization’s financial affairs are in order
    3. Review of the annual independent audit report, and any other financial audits of the University Center
    4. Whether the audit(s) should be accepted
    5. Approving the performance of any non-audit service provided by the auditing firm

Who Composed the Committee?

  • the members of the Executive Committee, except the Executive Director of the University Center
    • the Chair of the Board
    • the Vice Chair of the Board
    • the Treasurer of the Board
    • the Chair of the Programs & Facilities Advisory Committee
    • the Chair of the Business Enterprise Committee
    • two Board members, at least one of which shall be a faculty member, appointed by the Chair of the Board of Directors

The chair shall be elected by the committee’s membership, but cannot be the Chair of the Finance Committee.

**Members of the Finance Committee cannot compose half or more of the Audit Committee and no member of the committee shall have a material financial interest in any entity doing business with the corporation.